Posted by Kevin Scully
Jaya’s Q2-2013 results look good on the surface but were a little disappointing. Jaya reported H1-2013 revenue of US$147.2mn and net profit of US$16.6mn giving an EPS of US$ 0.84 cents. NAV is US$0.67 up from US$0.646. Please have a look at Jaya's Q2-2013 presentation slides for more details on its operating and financial data.
Key results highlights
a) The Q2-2013 results are not strictly comparable with Q2-2012 as the latter had no vessel sales.
b) If we adjust for the vessel sales and just use the chartering figures, the Q2-2013 figures would probably have shown a 79% increase in revenue to US$25.2mn ...
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